Inner Circle Video: Treating your trading as a business…the next level
In this weeks session we explored the concept of trading as a business. We differentiated between this and the way in which many traders operate i.e. in the ‘hobby zone’. Additionally guidance was provided to potential stages you can work towards once the basics are in place. The video can be watched below: Any comments or questions to mike.smith@gomarkets.com Mike Smith...
Inner Circle Recording: Avoid the FIVE trading mindset traps
Please find below the recording from this weeks inner circle session “Avoid the FIVE trading mindset traps”. In this session we explored the concept that mindset is far more than just emotion and examined 5 key areas that traders should work on that may have a positive impact on their trading performance. As always please take note of the risk warning at the beginning of the...
Are You an Honest Trader? 5 Powerful Questions to Ask Yourself Now
“The least initial deviation from the truth is multiplied later a thousandfold.” – Aristotle We came across the above quote from the famous Greek philosopher and couldn’t help thinking how relevant this is to trading, so thought it was worth a discussion to stimulate some self-reflection of your behaviour and thinking like a trader. The reality for most people is that: a....
Cognitive Trading Biases: #2 – Minimalisation bias
In a previous article we addressed the concept of cognitive trading biases as a barrier to potential successful implementation of a trading plan in the heat of the action you “press the button” on entry or exit action. In this article we examine another common cognitive trading bias, termed minimalisation bias. Trading biases revisited People have inbuilt set of belief and value...
Trading choices: Using a trading journal
We frequently refer both in the articles we publish and the weekly “Inner Circle” sessions we present, to the benefits of a trading journal. However, the reality is that many traders make the choice not to measure trading despite the logical benefits of doing so. Whether you do or don’t currently, the bottom-line decision you are making is not only whether you do or don’t but how that...
Inner Circle Video Recording: Trading Time Management
Find below the recording from this weeks Inner Circle session “Critical Trading Systems – Time Management”. As always please be aware of the disclaimer and risk warning at the commencement of the video and feel free to contact mike.smith@gomarkets.com with any questions or comments relating to the session. Mike Smith Educator GO Markets Disclaimer The...
Inner Circle Video – ‘Trading as a business’
In case you missed this weeks Inner circle session, or wish to review, please find video recording below. Any questions or comments to mike.smith@gomarkets.com Mike Smith Educator GO Markets Disclaimer The article from GO Markets analysts is based on their independent analysis. Views expressed are of their own and of a ‘general’ nature. Advice...Control your trading time (with FREE audit tool download)
Trading requires a commitment of time. For each of us the amount of time we must dedicate to trading activities is limited and justifiably so by other life activities (for of course, we want trading to contribute rather than take away from lifestyle). Despite the importance of checking in on how you are using your trading time, commonly traders do not manage their time for their...
Quick trading Tip…Be Calm and Develop Trading Patience
When we first start to trade, or subsequently (as a more experienced trader) when we trade a new symbol or system we are often “excited” as we see a “hope” for better results. We often forget that the development of expertise in other areas we have in life (think about what you do in work now for example), you must invest time, effort, learning and making mistakes (providing you...
The Top 5 daily habits of experienced traders
Success leaves clues, and over the years as an educator and coach with traders just like you, there are several things that those who achieve positive trading outcomes appear to do, that those who are less successful may not. One of these is to have a daily agenda or habits that go alongside direct trading activities with the aims of getting and staying in the optimum “state” to trade...